ENDV Targeting $20+ Billion Market In Vitro ADME and Toxicology Testing
LOS ANGELES, CA--(Marketwired - Nov 7, 2016) - Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company"), a developer of bioelectronic devices and non-invasive electroceuticals for the treatment of inflammatory conditions in vital organs, today announced that it is expanding its liver disease research program and its Cytotronics™ platform to create a high-fidelity drug development and toxicology testing platform.
Endonovo's Cytotronics™ platform uses bioelectronics to control and enhance cell functions, allowing 3D intelligent cell cultures to be implemented in growing and enhancing stem cells and tissues for the development of cell therapies, disease modeling, ADME (absorption, distribution, metabolism, and excretion) and toxicology testing. The Company's Cytotronics™ platform, which uses Time Varying Electromagnetic Field (TVEMF) technology, has already demonstrated great promise in growing and maintaining cells and tissues for 180 days in culture, as well as producing growth factors and cytokines. Endonovo's technology was able to expand blood forming stem cells (CD34+38- cells) over 80 fold and expand human mesenchymal stem cells over 100 fold in as few as 6 days.
The global in-vitro toxicology testing market was valued at $20.2 billion in 2014 with forecasts projecting it reaching a value of $44.7 billion by 2020, growing at an estimated CAGR of 10.5% from 2015 to 2022, according to Grand View Research. The increase in demand for in-vitro toxicology testing is attributable to novel and promising technologies in analytical laboratories, such as organ-on-a-chip technologies and bioinformatics.
"Right now a Phase I trial can cost roughly $15 million and take several years to complete," stated Endonovo CEO, Alan Collier. "Topping that off, only 10 percent of drugs entering Phase I trials actually make it to market translating into large financial losses for the pharmaceutical industry."
"This problem is not isolated to early clinical trials; numerous drugs have been withdrawn from the market with over 40 percent of marketing candidate drugs being terminated as a result of unexpected toxic effects, particularly in the liver."
Mr. Collier continued, "The inability testing drugs early on in the drug development process for their potential toxic effects coupled with the ineffectiveness of animal models mimicking human drug toxicity remains a huge bottleneck for the pharmaceutical industry in a time where development costs of a new drug exceeds $2.5 billion."
"We are developing our Cytotronics platform to be a high fidelity system enabling drugs and cosmetic products to be tested for their ADME and toxicity. Our ultimate goal focuses on lowering drug development costs while increasing the safety and effectiveness of drugs by allowing certain diseases to be modeled in the lab," concluded Endonovo CEO, Alan Collier.
